Economy, Innovation & Enterprise Systems

Business Growth, Innovation, and Long-Term Economic Resilience

This element will strengthen the region’s economic base by supporting entrepreneurship, small business growth, industry competitiveness, and innovation across sectors. It will answer the key questions of:

  • How do businesses start, grow, innovate, and transition ownership in the region?

  • Are current systems effectively supporting key industries and emerging economic opportunities?

  • How can innovation, entrepreneurship, and industry collaboration be better leveraged to increase resilience and prosperity?

System SWOT Analysis

Strengths Diverse Industry Mix; Strong Tourism Assets; “Region of Makers” with Entrepreneurial Culture

Weaknesses Low Relative Wages; Limited Lodging in Areas; Low Awareness of Capital Access for Small Business; Communication Gaps Between Sectors

Opportunities Good Climate for Ag Growth; Business Amenities Could be Marketed Better; Promote Amenities to Expand Tourism

Threats Rising Input Costs for Agriculture and Other Industries; Resistance to Change/Growth; Workforce Constraints Limit Growth